MN HF4417

Metropolitan Council must submit a financial status report on light rail transit projects to legislative transportation policy, finance, and capital investment committees by January 31 in each odd-numbered year.

Report must include for each light rail project under development or construction: most recent budget with changes, 30-year life cycle cost estimates, capital maintenance cost breakdowns for track/stations/vehicles/facilities, and costs to restore budget elements removed during design.

Report must also include analysis of service and ridership impacts from restored project elements, debt service schedules showing principal and interest, and annual operating subsidy estimates over the 30-year period.

Requirements do not apply to light rail lines that began revenue operations before the law's effective date and expire two years after subject light rail lines commence operations or are permanently abandoned.

Applies to light rail projects in Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, and Washington counties that formally entered the Federal Transit Administration's New Starts engineering phase or later as of the law's effective date.